RNS and it's good!!23 Mar 2016 08:10
Financial Report and Posting of Report & Accounts
Wednesday, 23 March 2016
RNS Number : 9644S
React Group PLC
23 March 2016
23 March 2016
REACT Group plc
(the "Company or the Group")
Financial Report and Posting of Report & Accounts
Period June 24 2015 to September 30 2015
REACT Group plc (AIM: REAT), the specialist provider of rapid response deep cleaning and emergency decontamination services, announces its financial results for the period from June 24 2015 to September 30 2015.
Financial Highlights
· Turnover for the period of £704,000
· Gross profit for the period of £358,000
· Loss excluding one-off items £55,000
· Loss for the period of £1.2million
· Cash position remains strong with £1.8million, at the date of the financial statements and £1.3million as at today's date.
Operational Highlights
· The Company announced the raising of £2.0 million (before expenses), the acquisition of REACT SC Holdings Ltd and the readmission of its shares to trading on AIM on 14 August 2015
· The Company reports a successful start to the current trading period
Post Period End
· Two wholly owned subsidiaries created to reflect business
· Environmental Services granted a Full Asbestos Removal Licence
· New client business gained
Grahame Rummery, Chief Executive of REACT Group plc, commented: "Since we recommenced trading on June 24 2015, we have been able to continue to generate revenues from our existing customer base and new clients. Following the re-admission to AIM and the acquisition of the two new subsidiaries, we are now working with a number of new clients that will be generating the growth in sales for all businesses in the Group going forward."
For further information, please contact:
REACT Group plc
Gill Leates - Chairman
07799 662642
SPARK Advisory Partners Limited (NOMAD)
Neil Baldwin
0203 368 3554
Mark Brady
0203 368 3551
Whitman Howard Limited (Brokers)
Nick Lovering
0207 659 1224
Walbrook PR Ltd
020 7933 8780
Paul McManus
Mob: 07980 541 893
Chairman's and Chief Executive Statement
We are pleased to announce the financial results for REACT Group PLC's (formerly Verdes Management PLC) annual report for the period ended 30 September 2015.
The Company was admitted to trading on AIM in August 2015 following the successful acquisition of REACT SC Holdings Ltd. and was renamed REACT Group PLC. REACT traded successfully for many years as a division of Autoclenz Holdings Ltd. In June 2015 the REACT business was transferred to a newly-formed limited company, REACT Specialist Cleaning Limited, which, following a re-organisation of the Autoclenz group, became a subsidiary of REACT SC Holdings Limited.
On 17 August 2015, REACT Group Plc acquired the entire share capital of REACT SC Holdings